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20130124
20130201
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to worry about the debt ceiling, at what point do our creditors say, you know what? we're going to charge you a little more interest and that interest goes up to 6% on the $16 trillion? don't we just get to the same problem on a long-term approach by not dealing with the underlying -- >> congressman, i'm totally in favor of dealing with the budget. that's the point of the book we wrote called "white house burning," a dramatic enough title, i hope. >> okay. >> but the point is you need a balanced approach as was said at the beginning. >> mr. johnson, if i could -- it's my time. and i've heard the balanced approach now for a year and a half, and i heard it today from the panel. there's been $600 billion of additional revenue that is a result of the fiscal cliff negotiations. balanced approach to me was if you gave revenue, you got spending reforms. has the president offered any spending reforms as of yet in regards to that $600 billion of additional revenue? has anyone heard them? >> we're hoping to see some in the budget, sir. >> when he, when the president put -- when geithner put forth h
ceiling unless the senate passes a budget. we are going to point the country in the right direction. we are going to cut spending. [applause] it will be times when conservatives disagree on the way forward. we have never marched in lockstep. that is not what we do. and healthy debate is a good and needed thing. we can do that in private without doing it in public. we need to give an honest account of our actions and the reasons for that. we should challenge the left and not each other. our founders were men of prudence. taken james madison. nowadays they call him the founder of the constitution. he lost some key governments -- arguments. he fought for plan to give the states the same number of states in the government. he wanted to give congress even more power. he wanted it to be able to veto state laws. madison argued vigorously for his side. when it came time to ratify the constitution, there was no greater advocate and james madison. he helped write editorials and called it the federalist papers. he led the charge for approval at the virginia state convention. he paid a price for hi
the difference here is unlike the debt ceiling which has the huge, global third party implications whether the government refinances itself, this is an invention of congress. they've decided please, tie my hands so i don't do it again. i do think therefore there's flexibility in whether they defer it or somehow play it some other way. >> bill: michael our guest finance writer for yahoo. all of this revolves, of course around the debt and the deficit. isn't it also true that we've made significant paydowns of the debt now and that's not -- so big, right but not as serious a problem as it was a year ago. >> this i think is kind of the under tone. it is not being talked about loudly. i do think it is the context for a lot of decisions. no debt has gotten paid down. we're running annual deficits. the absolute size of the government's debt gets bigger but the size of the deaf -- deficits have gone to under a trillion a year this year which no changes no effort really to actually do anything except for the economy to improve tax receipts to go up and you know, lower spending on sort of income su
Search Results 0 to 2 of about 3